Was $XRP created to overcome the shortcomings of Bitcoin?

Focusing on the moment Bitcoin launched in 2009, it introduced the world to decentralized money. But by 2011, some early blockchain developers had discussed its trade-offs—especially slow transactions, high energy usage, and limited scalability. XRP emerged from that debate. According to a quote shared by cryptocurrency commentator Xaif on X in June 2025, Ripple co-founder Chris Larsen recalled the founding intention of the project: "At first, we wanted to build a better Bitcoin... and we created XRP." He stated that it was not competition but a redesign. Technical starting point of XRP XRP Ledger (XRPL) was developed by engineers David Schwartz, Jed McCaleb, and Arthur Britto. They began working in 2011, with the goal of creating a digital asset that is faster, more scalable, and more sustainable for payments compared to Bitcoin. The project was originally named "Ripple." While the Bitcoin blockchain can only handle about seven transactions per second, or ETH can handle about 15 transactions per second, the XRP blockchain can handle 1,500 transactions per second. XRP was launched in June 2012. Although this technology is independent, Ripple Labs (, originally OpenCoin), was established shortly thereafter to develop enterprise use cases based on this technology. Chris Larsen joined Ripple in 2012 as CEO. Under his leadership, the company focused on payment infrastructure. Instead of trying to replace the financial system, Ripple aims to integrate with this system, providing banks and financial institutions with tools for real-time gross settlement and foreign exchange. XRP is designed as a bridge currency. It allows for the immediate conversion of value between two different fiat currencies without the need for a pre-funded nostro account. Products like xRapid and then On-Demand Liquidity (ODL) leverage the speed and low transaction costs of XRP. According to Ripple's Q1 2025 market report, more than 80% of global remittance volume is currently processed by ODL. The XRP Ledger has processed over 170 million transactions in just the first quarter. Beyond Payment: XRPL in 2025 Today, the purpose of XRP is not limited to transferring money. The XRP Ledger now supports smart contracts compatible with Ethereum through the EVM sidechain. It also allows pilot programs for tokenized assets, stablecoins, and even central bank digital currency (CBDC). According to data from XRPScan in June 2025, the number of XRP whale wallets holding over 1 million XRP has reached a 12-year high of 2,708. This sudden spike in whale activity, along with a sevenfold increase in the number of daily active addresses, indicates growing confidence among investors in XRP. The price of XRP increased by 2.02% on Saturday, June 28, following a 1.8% rise on Friday, closing at $2.1865. This token outperformed the overall market, which rose by 0.59%, bringing the total cryptocurrency market capitalization to $3.26 trillion. This philosophical difference continues to shape both assets. While Bitcoin remains a decentralized store of value and a hedge against inflation, XRP is positioned as a utility asset for institutional finance. Thirteen years after the launch of the XRP Ledger, that vision continues to drive the development of this protocol and explains why it is increasingly seen not as a competitor to Bitcoin but as a complement to the blockchain ecosystem.